Council's draft budget 2024/25 to support investment and the economy as public consultation opens

East Lindsey District Council is asking residents and businesses to share their views on the proposed budget for 2024/25 which is centred on supporting investment and driving the local economy.

The draft budget looks to deliver additional investment in key areas including our market towns, driving economic growth, supporting the delivery of affordable housing, supporting healthy living, invest to save initiatives as well as the decarbonisation and continued investment in green initiatives.

The proposed budget for the next financial year also supports residents, businesses, and communities through the delivery of its services.

The investment to support our local economy while still providing key services for residents comes despite the draft budget being one of the most challenging due to unprecedented inflation pressures, as well as the continued reduction in Government funding and the impact of Internal Drainage Board levies on the council's ability to support services.

The Council is proposing a Council Tax rise of 3.06 per cent - £4.95 per year for a Band D property - an extra 9.5p per week. Only 8p in every £1 of Council Tax we collect is the council's element, which includes a levy that we are required to pay to the Internal Drainage Boards, totalling more than half of the 8p.

The budget also proposes:

•           To continue with the generation of additional efficiencies, shared services and income from commercial activities guided by our Delivery Plans.

•           Increased capital investment in Council assets to help generate new income streams, reduce running costs and help deliver services more efficiently.

•           Significant additional capital and revenue spending supported by Grant Funding

•           Setting aside funds to support de-carbonisation activities and support for the most vulnerable in our community.

Cllr Richard Fry, Portfolio Holder for Finance at East Lindsey District Council, said: "Our priorities are to ensure that we remain financially resilient to deliver the services that our communities need as well as investing in our towns and delivering recovery by supporting economic growth.

"As part of the process, it is important we hear the views of our residents and businesses to help inform our final decision at Council in February.

"I wish to encourage our residents and businesses to take time to read through the proposals and have their say as part of this consultation."

The consultation is available to complete online at www.e-lindsey.gov.uk/article/25388/Budget-2024-25-Consultation

The closing date for responses is February 2, 2024.

Paper copies of the consultation can also be requested by calling 01507 601111.